sumo-20201204
false000164326900016432692020-12-042020-12-04

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
___________________
FORM 8-K
___________________
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): December 4, 2020
___________________
Sumo Logic, Inc.
(Exact name of registrant as specified in its charter)
___________________
Delaware001-3950227-2234444
(State or other jurisdiction of
incorporation or organization)
(Commission File Number)(I.R.S. Employer
Identification Number)
305 Main Street
Redwood City, California 94063
(Address of principal executive offices, including zip code)
(650) 810-8700
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
___________________
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common stock, par value $0.0001 per shareSUMO
The Nasdaq Stock Market LLC
(Nasdaq Global Select Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company,indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.



Item 2.02. Results of Operations and Financial Condition.

On December 7, 2020, Sumo Logic, Inc. issued a press release announcing its financial results for its third quarter ended October 31, 2020. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Appointment of New Director

On December 4, 2020, the Board of Directors (the “Board”) of Sumo Logic, Inc. (the “Company”) expanded the size of the Board to eight members and appointed Tracey E. Newell to the Board as a Class II director, effective immediately. Ms. Newell was also appointed to the Board’s Compensation and Talent Committee and the Corporate Governance and Nominating Committee.

Ms. Newell will participate in the Company’s Outside Director Compensation Policy, as described in the Company’s prospectus filed with the Securities and Exchange Commission on September 17, 2020. In addition, Ms. Newell will execute the Company’s standard form of indemnification agreement.

Ms. Newell has served as president, global field and marketing operations at Informatica LLC, an enterprise cloud data management company (“Informatica”), since July 2018. Ms. Newell also served as a member of Informatica’s board of directors from June 2016 to June 2018. Prior to joining Informatica, Ms. Newell was executive vice president of global field operations at Proofpoint, Inc., an enterprise security software and solutions company, from August 2013 until June 2018. Before Proofpoint, from July 2011 to August 2013, Ms. Newell was executive vice president, global sales at Polycom, Inc. She has also held sales leadership positions at Juniper Networks and at Cisco WebEx. Ms. Newell currently serves on the board of directors of SailPoint Technologies Holdings, Inc. Ms. Newell holds a B.A. in Business Economics from the University of California, Santa Barbara.

The Company is party to a service agreement with Informatica. During fiscal 2020 and the nine months ended October 31, 2020, we received service fees from Informatica in the amount of $1.4 million and $1.5 million, respectively.

A copy of the press release announcing Ms. Newell's appointment is filed herewith as Exhibit 99.2 and incorporated herein by reference.

Item 7.01 Regulation FD Disclosure.

Channels for Disclosure of Information

Investors, the media, and others should note that we may announce material information to the public through filings with the Securities and Exchange Commission, the investor relations page on our website, press releases, our Twitter account (@SumoLogic), our Facebook page, our LinkedIn page, public conference calls, and webcasts. The information disclosed by the foregoing channels could be deemed to be material information. As such, we encourage investors, the media, and others to follow the channels listed above and to review the information disclosed through such channels.

Any updates to the list of disclosure channels through which we will announce information will be posted on the investor relations page on our website.

The information contained in Items 2.02 and 7.01 of this Current Report on Form 8-K and in Exhibit 99.1 hereto are "furnished" and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.




Exhibit Number    Description
         
99.1    Press Release dated December 7, 2020
99.2    Press Release dated December 7, 2020
104    Cover Page Interactive Data File (embedded within the Inline XBRL document)




SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SUMO LOGIC, INC.
Date: December 7, 2020By:/s/ Sydney Carey
Name:Sydney Carey
Title:Chief Financial Officer
(Principal Financial Officer)


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Exhibit 99.1
Sumo Logic Announces Third Quarter Fiscal 2021 Financial Results
Third quarter revenue grew 28% year-over-year to $51.9 million
Raised $342.7 million through initial public offering

REDWOOD CITY, CA. — December 7, 2020 Sumo Logic (Nasdaq: SUMO), a pioneer of continuous intelligence, today announced financial results for the third quarter of its fiscal 2021, ended October 31, 2020.

“We delivered strong results in our first quarter as a public company as customers continue to choose Sumo Logic's Continuous Intelligence Platform™ to transform the tsunami of data generated from digital transformation into actionable insights, ” said Ramin Sayar, president and CEO of Sumo Logic. "Sumo Logic is the pioneer of continuous intelligence, enabling organizations to accelerate their shift to cloud computing and modern application architectures. With new use cases continuing to emerge across operational intelligence, security intelligence and business intelligence, we see a long horizon of growth ahead of us."

Third Quarter Fiscal 2021 Financial Highlights
Revenue was $51.9 million, an increase of 28% year-over-year
Revenue, excluding our largest revenue customer, was $48.1 million, an increase of 28% year-over-year
GAAP gross margin was 74%; non-GAAP gross margin was 77%
GAAP operating loss was $22.9 million; GAAP operating margin was (44)%
Non-GAAP operating loss was $2.2 million; non-GAAP operating margin was (4)%
GAAP net loss was $23.9 million or $0.43 per share
Non-GAAP net loss was $3.3 million or $0.06 per share
Net cash used by operating activities was $18.3 million; free cash flow was $(18.7) million
Cash and cash equivalents was $407.5 million as of October 31, 2020

Recent Highlights
Business Highlights:
Completed our initial public offering of 17.0 million shares at $22 per share, for total net proceeds of $342.7 million.
Released our 5th Annual Continuous Intelligence Report highlighting increased multi-cloud adoption and the heightened requirements of cloud architectures and security.
Hosted Sumo Logic’s 4th annual Illuminate user conference in October. The annual user conference was held virtually on October 6th and 7th and brought together customers, partners and employees for two days of education, certification and expert advice to get the most value out of the Sumo Logic Continuous Intelligence Platform™.
Announced the appointment of Tracey Newell to our Board of Directors.

Product Highlights:
Sumo Logic Observability Solution enhancements:
Announced general availability of AWS Observability Solution which automatically ingests, collects, unifies and analyzes telemetry data from popular AWS services.
Announced the general availability of the Sumo Logic Software Development Optimization (SDO) solution which integrates and analyzes data from multiple DevOps tools to give developers real-time insights into software development pipelines.
Announced new distributed tracing capabilities added to its existing Microservices Observability Solution. The new capabilities unify application and infrastructure logs, metrics, traces and metadata and enable sophisticated analytics on both structured and unstructured data.

Sumo Logic Security Intelligence Suite enhancements:
Announced a new integration with AWS Network Firewall, a new managed service that makes it easy to deploy essential network protections for all Amazon Virtual Private Clouds (Amazon VPCs) on Amazon Web Services (AWS).
Announced SecOps Team Reporting with pre-built dashboards that enable SecOps teams to get real-time views around data ingestion, usage, and SecOps metrics.



Announced detection improvements including new chain, threshold and aggregation rule types that further improve automated threat detection capabilities helping cloud SIEM customers with their specific use cases.

Financial Outlook
For the fourth quarter of fiscal 2021, Sumo Logic expects:
Total revenue between $51.8 million and $52.3 million, representing 17% to 18% growth year over year
Revenue, excluding our largest revenue customer, between $49.3 million and $49.8 million, representing 23% to 24% growth year-over-year
Non-GAAP operating loss of $11.4 million to $10.9 million; non-GAAP operating margin of (22)% to (21)%
Non-GAAP net loss per share of $0.13 to $0.12 on approximately 101.5 million weighted average shares outstanding
For the full fiscal year 2021, Sumo Logic expects:
Total revenue between $200.3 million and $200.8 million, representing 29% to 30% growth year over year
Revenue, excluding our largest revenue customer, between $185.9 million and $186.4 million, representing 29% growth year-over-year
Non-GAAP operating loss of $35.6 million to $35.1 million; non-GAAP operating margin of (18)% to (17)%
Non-GAAP net loss per share of $0.79 to $0.78 on approximately 49.0 million weighted average shares outstanding
These statements are forward-looking and actual results may differ materially. Please refer to the Forward-Looking Statements safe harbor below for information on the factors that could cause our actual results to differ materially from these forward-looking statements.
Guidance for non-GAAP financial measures excludes stock-based compensation expense and amortization of acquired intangible assets. We have not provided the most directly comparable GAAP measures because certain items are out of our control or cannot be reasonably predicted. Accordingly, a reconciliation for forward-looking non-GAAP operating loss and non-GAAP net loss per share is not available without unreasonable effort. Refer to Non-GAAP Financial Measures below.

Conference Call Details
The company will host a conference call and live webcast on Monday, December 7, 2020, at 1:30 p.m. Pacific time (4:30 p.m. Eastern time). The news release with the financial results will be accessible on Sumo Logic’s investor relations website at investor.sumologic.com prior to the conference call. To access the conference call, dial (877) 407-0784 from the United States or (201) 689-8560 internationally and reference the company name and conference title. Following the completion of the call, a replay will be available for approximately two weeks. The replay can be accessed by dialing (844) 512-2921 from the United States or (412) 317-6671 internationally and using the recording passcode 13713250. A live webcast and replay of the conference call can also be accessed from the Sumo Logic Investor Relations website at investor.sumologic.com.

Supplemental Financial and Other Information
Supplemental financial and other information can be accessed through Sumo Logic’s investor relations website at investor.sumologic.com. Sumo Logic uses the investor relations section on its website as the means of complying with its disclosure obligations under Regulation FD. Accordingly, we recommend that investors should monitor Sumo Logic’s investor relations website in addition to following Sumo Logic’s press releases, SEC filings and social media.

Non-GAAP Financial Measures
In addition to our financial information presented in accordance with GAAP, we believe the following non-GAAP financial measures are useful in evaluating our operating performance. We use the following non-GAAP financial measures, collectively, to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, may be helpful to investors because they provide consistency and comparability with past financial performance and meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our business, results of operations, or outlook. The non-GAAP financial measures are presented for supplemental informational purposes only, have limitations as analytical tools, and should not be considered in isolation



or as a substitute for financial information presented in accordance with GAAP and may be different from similarly-titled non-GAAP financial measures used by other companies. In addition, other companies, including companies in our industry, may calculate similarly-titled non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, and not to rely on any single financial measure to evaluate our business, which it includes in press releases announcing quarterly financial results, including this press release.
Non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP loss from operations, non-GAAP operating margin, non-GAAP net loss and non-GAAP net loss per share: We define these non-GAAP financial measures as their respective GAAP measures, excluding expenses related to stock-based compensation expense, amortization of acquired intangibles, and acquisition-related expenses. We use these non-GAAP financial measures as part of our overall assessment of our performance, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies, and to communicate with our board of directors concerning our financial performance.
Free cash flows: We define free cash flow as cash used in operating activities less purchases of property and equipment and capitalized internal-use software costs. We believe free cash flow is a useful indicator of liquidity that provides our management, board of directors, and investors with information about our future ability to generate or use cash to enhance the strength of our balance sheet and further invest in our business and pursue potential strategic initiatives.
Please see the reconciliation tables at the end of this release for the reconciliation of GAAP and non-GAAP results.

Forward-Looking Statements
This press release contains express and implied forward-looking statements including but not limited to, statements regarding our GAAP and non-GAAP guidance for the third fiscal quarter and full fiscal 2021 and financial outlook and market positioning, our business plans, initiatives and objectives, our ability to execute such plans, initiatives and objectives in a timely manner, the benefits and capabilities of our platform, and our plans and expectations regarding new platform features and functionality that are under development or in process. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to our ability to achieve and maintain future profitability, our ability to attract new customers and retain and sell additional functionality and services to our existing customers, our ability to sustain and manage our growth, our ability to successfully add new features and functionality to our platform, our ability to compete effectively in an increasingly competitive market, and general market, political, economic, and business conditions, including the impact of COVID-19, and other risks detailed in our prospectus filed with the Securities and Exchange Commission (SEC) pursuant to Rule 424(b)(4), dated September 17, 2020, and other filings and reports that we may file from time to time with the SEC. Additional information will be made available in our Form 10-Q for the quarter ended October 31, 2020 that will be filed with the SEC, which should be read in conjunction with this press release and the financial results included herein.
Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent our views as of the date of this press release. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. We anticipate that subsequent events and developments could cause our views to change. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.




About Sumo Logic
Sumo Logic, Inc. (Nasdaq: SUMO), is the pioneer in continuous intelligence, a new category of software, which enables organizations of all sizes to address the data challenges and opportunities presented by digital transformation, modern applications, and cloud computing. The Sumo Logic Continuous Intelligence Platform™ automates the collection, ingestion, and analysis of application, infrastructure, security, and IoT data to derive actionable insights within seconds. More than 2,100 customers around the world rely on Sumo Logic to build, run, and secure their modern applications and cloud infrastructures. Only Sumo Logic delivers its platform as a true, multi-tenant SaaS architecture, across multiple use-cases, enabling businesses to thrive in the Intelligence Economy. For more information, visit www.sumologic.com.
For more information, please contact:

Investor Relations Contact
Paul Thomas
pthomas@sumologic.com
(650) 214-3847
Media Contact
Melissa Liton
mliton@sumologic.com
(650) 814-3882



Sumo Logic, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(unaudited)
Three Months Ended October 31,Nine Months Ended October 31,
2020201920202019
Revenue$51,868 $40,513 $148,485 $110,745 
Cost of revenue(1)
13,601 11,212 42,140 29,151 
Gross profit38,267 29,301 106,345 81,594 
Operating expenses:
Research and development(1)
18,753 14,029 51,756 35,394 
Sales and marketing(1)
26,904 30,382 80,534 76,868 
General and administrative(1)
15,507 14,193 32,096 28,141 
Total operating expenses61,164 58,604 164,386 140,403 
Loss from operations(22,897)(29,303)(58,041)(58,809)
Interest and other (expense) income, net(322)726 (249)1,611 
Interest expense(290)(40)(654)(66)
Loss before provision for income taxes(23,509)(28,617)(58,944)(57,264)
Provision for income taxes417 764 357 
Net loss$(23,926)$(28,619)$(59,708)$(57,621)
Net loss per share, basic and diluted$(0.43)$(1.95)$(1.92)$(4.13)
Weighted-average shares used to compute net loss per share, basic and diluted55,816 14,650 31,044 13,953 
________________
(1)Includes stock-based compensation expense as follows (in thousands):

Three Months Ended October 31,Nine Months Ended October 31,
2020201920202019
Cost of revenue$213 $50 $314 $96 
Research and development5,728 2,474 9,606 3,953 
Sales and marketing4,747 1,960 7,863 3,866 
General and administrative8,255 5,244 10,883 8,646 
Total stock-based compensation expense$18,943 $9,728 $28,666 $16,561 



Sumo Logic, Inc.
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
October 31,
2020
January 31,
2020
Assets
Current assets:
Cash and cash equivalents$407,469 $101,513 
Accounts receivable, net41,685 27,011 
Prepaid expenses8,581 6,305 
Deferred sales commissions, current11,317 8,884 
Other current assets2,153 1,604 
Total current assets471,205 145,317 
Property and equipment, net3,952 2,993 
Goodwill50,672 50,672 
Acquired intangible assets, net12,298 17,415 
Deferred sales commissions, noncurrent24,605 17,479 
Other noncurrent assets840 3,885 
Total assets$563,572 $237,761 
Liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit)
Current liabilities:
Accounts payable$8,678 $6,151 
Accrued expenses and other current liabilities21,334 20,371 
Deferred revenue, current88,612 85,715 
Total current liabilities118,624 112,237 
Deferred revenue, noncurrent1,768 2,970 
Redeemable convertible preferred stock warrant liability— 270 
Other noncurrent liabilities4,883 2,691 
Total liabilities125,275 118,168 
Redeemable convertible preferred stock— 340,167 
Stockholders’ equity (deficit):
Common stock10 
Additional paid-in-capital815,735 97,131 
Accumulated other comprehensive loss(246)(213)
Accumulated deficit(377,202)(317,494)
Total stockholders’ equity (deficit)438,297 (220,574)
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit)$563,572 $237,761 



Sumo Logic, Inc.
Condensed Consolidated Statement of Cash Flows
(in thousands)
(unaudited)
Three Months Ended October 31, Nine Months Ended October 31,
2020201920202019
Cash flows from operating activities
Net loss$(23,926)$(28,619)$(59,708)$(57,621)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization2,080 691 6,152 1,927 
Amortization of deferred sales commissions2,934 2,238 8,148 6,419 
Stock-based compensation, net of amounts capitalized18,943 9,728 28,666 16,561 
Other104 (91)186 (11)
Changes in operating assets and liabilities, net of impact of acquisitions:
Accounts receivable(12,256)(3,939)(14,717)(5,026)
Prepaid expenses(5,534)(187)(2,276)513 
Other assets(799)(27)(619)(57)
Deferred sales commissions(10,800)(3,983)(17,718)(10,621)
Accounts payable843 (1,491)(149)56 
Accrued expenses and other current liabilities1,611 5,397 1,781 5,182 
Deferred revenue7,828 6,051 1,695 12,428 
Other noncurrent liabilities673 2,354 485 
Net cash used in operating activities(18,299)(14,223)(46,205)(29,765)
Cash flows from investing activities
Purchases of property and equipment(168)(278)(358)(1,949)
Capitalized internal-use software costs(246)(1,671)(1,205)(4,292)
Cash paid for acquisitions, net of cash and restricted cash acquired— (7,330)— (8,260)
Net cash used in investing activities(414)(9,279)(1,563)(14,501)
Cash flows from financing activities
Proceeds from initial public offering, net of underwriting discounts349,166 — 349,166 — 
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs— — — 106,072 
Proceeds from borrowings— — 24,250 — 
Repayment of borrowings(24,250)— (24,250)— 
Payments of deferred offering costs(765)(84)(1,321)(84)
Proceeds from exercise of common stock options3,990 1,185 6,113 3,614 
Cash paid for holdback consideration in connection with acquisition— — (100)— 
Net cash provided by financing activities328,141 1,101 353,858 109,602 
Effect of exchange rate changes on cash and cash equivalents(76)59 (134)(7)
Change in cash and cash equivalents and restricted cash309,352 (22,342)305,956 65,329 
Cash and cash equivalents and restricted cash:
Beginning of period98,417 153,342 101,813 65,671 
End of period$407,769 $131,000 $407,769 $131,000 



Sumo Logic, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
(in thousands, except per share data and percentages)
(unaudited)
Three Months Ended October 31, Nine Months Ended October 31,
2020201920202019
Reconciliation of gross profit and gross margin
GAAP gross profit$38,267 $29,301 $106,345 $81,594 
Add: Stock-based compensation213 50 314 96 
Add: Amortization of acquired intangible assets1,706 342 5,117 562 
Non-GAAP gross profit$40,186 $29,693 $111,776 $82,252 
GAAP gross margin74 %72 %72 %74 %
Non-GAAP gross margin77 %73 %75 %74 %
Reconciliation of operating expenses
GAAP research and development$18,753 $14,029 $51,756 $35,394 
Less: Stock-based compensation(5,728)(2,474)(9,606)(3,953)
Non-GAAP research and development$13,025 $11,555 $42,150 $31,441 
GAAP sales and marketing$26,904 $30,382 $80,534 $76,868 
Less: Stock-based compensation(4,747)(1,960)(7,863)(3,866)
Non-GAAP sales and marketing$22,157 $28,422 $72,671 $73,002 
GAAP general and administrative$15,507 $14,193 $32,096 $28,141 
Less: Stock-based compensation(8,255)(5,244)(10,883)(8,646)
Less: Acquisition-related expenses— (2,626)— (2,626)
Non-GAAP general and administrative$7,252 $6,323 $21,213 $16,869 
Reconciliation of operating loss and operating margin
GAAP loss from operation$(22,897)$(29,303)$(58,041)$(58,809)
Add: Stock-based compensation18,943 9,728 28,666 16,561 
Add: Amortization of acquired intangible assets1,706 342 5,117 562 
Add: Acquisition-related expenses— 2,626 — 2,626 
Non-GAAP operating loss$(2,248)$(16,607)$(24,258)$(39,060)
GAAP operating margin(44)%(72)%(39)%(53)%
Non-GAAP operating margin(4)%(41)%(16)%(35)%
Reconciliation of net loss
GAAP net loss$(23,926)$(28,619)$(59,708)$(57,621)
Add: Stock-based compensation18,943 9,728 28,666 16,561 
Add: Amortization of acquired intangible assets1,706 342 5,117 562 
Add: Acquisition-related expenses— 2,626 — 2,626 
Non-GAAP net loss$(3,277)$(15,923)$(25,925)$(37,872)
GAAP net loss per share$(0.43)$(1.95)$(1.92)$(4.13)
Non-GAAP net loss per share$(0.06)$(1.09)$(0.84)$(2.71)
Weighted average shares outstanding, basic and diluted55,816 14,650 31,044 13,953 
Reconciliation of cash used in operating activities to free cash flow
GAAP cash used in operating activities$(18,299)$(14,223)$(46,205)$(29,765)
Less: Capital expenditures(168)(278)(358)(1,949)
Less: Capitalized internal-use software costs(246)(1,671)(1,205)(4,292)
Free cash flow$(18,713)$(16,172)$(47,768)$(36,006)
— %— %— %— %

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Exhibit 99.2
Sumo Logic Expands Board of Directors with Addition of Industry Go-To-Market Veteran Tracey Newell

New Addition to Help Company Navigate Next Phase of Global Expansion and Growth as
Continuous Intelligence Category Leader

REDWOOD CITY, Calif. – Dec. 7, 2020 – Sumo Logic (Nasdaq: SUMO), the pioneer in continuous intelligence, today announced the appointment of Tracey Newell to its board of directors as an independent board member to help guide Sumo Logic’s growth and market leadership.

“We continue to see new opportunities and use cases across operational, security and business intelligence which is helping to fuel our continued growth, expansion and success in the market as the pioneer of continuous intelligence,” said Ramin Sayar, president and CEO, Sumo Logic. “Tracey’s impressive go-to-market expertise across sales, customer success and marketing will make for a strong addition to the experienced board and help Sumo Logic as we move into the next phase of our journey as a public company.”

Newell brings deep go-to-market experience in high growth software companies. As President of Informatica’s global sales, marketing and customer success teams, she is instrumental in driving Informatica’s growth engine. Prior to joining Informatica, Tracey was executive vice president of global field operations at Proofpoint. Under her leadership, Proofpoint saw rapid growth, becoming a top five leader in the cybersecurity market. She has also led high growth sales leadership teams at Polycom, Juniper Networks, and at Cisco WebEx. Recognized as a Top 100 Sales Leader by The Modern Sale, Tracey currently serves on the Board of Directors of SailPoint.

As a cloud-native company, Sumo Logic is already well positioned to help enterprises scale to meet the demand of digital business, and derive actionable insights more effectively in order to build, manage, and secure modern digital services,” said Tracey Newell, president at Informatica. “I have been following Sumo Logic’s continued growth and success for years, and I am thrilled to join such an experienced and distinguished board and management team as the company scales to the next level.”

Additional Resources
Learn more about Sumo Logic’s Continuous Intelligence Platform™
Sign up for a free trial of Sumo Logic

About Sumo Logic
Sumo Logic Inc. (Nasdaq: SUMO) is the pioneer in continuous intelligence, a new category of software, which enables organizations of all sizes to address the data challenges and opportunities presented by digital transformation, modern applications, and cloud computing. The Sumo Logic Continuous Intelligence Platform™ automates the collection, ingestion, and analysis of application, infrastructure, security, and IoT data to derive actionable insights within seconds. More than 2,100 customers around the world rely on Sumo Logic to build, run, and secure their modern applications and cloud infrastructures. Only Sumo Logic delivers its platform as a true, multi-tenant SaaS architecture, across multiple use-cases, enabling businesses to thrive in the Intelligence Economy. For more information, visit www.sumologic.com.

Sumo Logic is a trademark or registered trademark of Sumo Logic in the United States and in foreign countries. All other company and product names may be trademarks or registered trademarks of their respective owners.

Any information regarding offerings, updates, functionality, or other modifications, including release dates, is subject to change without notice. The development, release, and timing of any offering, update, functionality, or modification described herein remains at the sole discretion of Sumo Logic, and should not be relied upon in making a purchase decision, nor as a representation, warranty, or commitment to deliver specific offerings, updates, functionalities, or modifications in the future.

Media Contact
Melissa Liton
Sumo Logic
mliton@sumologic.com
(650) 814-3882